David Cameron resigns

LONDON — David Cameron announced his resignation as prime minister Friday after Britain voted to leave the European Union in a referendum that has sent shockwaves through Europe.

The prime minister, speaking outside Number 10 Downing Street with his wife Samantha, said Britain needed new “strong, determined and committed leadership.”

“I think the country requires fresh leadership,” he announced at just after 8 a.m.

He said the U.K. should aim to have a new prime minister in place by October. The new leader will then trigger Article 50, beginning the two-year process of leaving the EU.

His voice cracking with emotion, the prime minister said: “The British people have voted to leave the European Union and their will must be respected.”

“The will of the British people is an instruction that must be delivered,” he said. “It was not a decision that was taken lightly, not least because so many things were said by so many different organisations about the significance of this decision. So there can be no doubt about the result.”

There were also reassuring words for the European citizens in the U.K., and for Brits abroad.

“We must now prepare for a negotiation with the European Union. This will need to involve the full engagement of the Scottish, Welsh and Northern Ireland governments, to ensure that the interests of all parts of our United Kingdom are protected and advanced.”

“But above all this will require strong, determined and committed leadership,” he said.

He pledged to work over the coming weeks and months to “steady the ship” but insisted that it was right for him to resign. “This is not a decision I have taken lightly, but I do believe it is in the national interest to have a period of stability and then the new leadership required.”

“There is no need for a precise timetable today, but in my view we should aim to have a new prime minister in place by the start of the Conservative Party Conference in October,” he added.

It means Cameron has just three months left in Number 10.

“A negotiation with the European Union will need to begin under a new prime minister,” he said. “I think it is right that this new prime minister takes the decision about when to trigger Article 50 and start the formal and legal process of leaving the EU.”

Cameron said that he would attend the European Council next week to explain the decision the British people have taken and his own decision to step aside.

On the verge of tears as he wrapped up, he added: “I love this country – and I feel honoured to have served it. I will do everything I can in future to help this great country succeed.”

It is an astonishing turnaround for Cameron, who just 13 months ago became the first Conservative leader to win a majority in 23 years.

George Osborne, the Chancellor of the Exchequer, is also likely to step down, leaving the government teetering on the edge of collapse.

There will be calls for an immediate cabinet reshuffle to bring in senior Brexit leaders, with Boris Johnson and Michael Gove tipped for big promotions, alongside Andrea Leadsom, Priti Patel and Liam Fox.

A Conservative leadership election will follow in the summer.

Cameron’s statement is likely to increase turmoil in the markets, which had already tanked on opening Friday.

Johnson, the favourite to succeed Cameron, is expected to make a statement at 11 a.m., U.K. time.

Other leading contenders include Home Secretary Theresa May, Energy Minister Andrea Leadsom and leading Brexit campaigner Priti Patel. Dominic Raab, another Brexit supporter, is likely to throw his hat into the ring.

Cameron’s announcement gives 150,000 Tory members the power to choose the next prime minister.

Stefi

“Gisela Stuart, the Labour MP who led the Brexit campaign, called for calm. She said: “We have a responsibility and that is to act in the best, long-term interests of this country.” – Yes you idiot and the best, long-term interests of the country were to Remain. Look at the pound you fool – people are going to loose their jobs, savings are going to be desiccated … and it was all totally 100% unnecessary. The EU is not a monster. A fumbling, incompetent fool but not a monster. I find it particularly offensive that somelike Stuart can brandish such platitudes on a day like today.

Posted on 6/24/16 | 10:10 AM CET

Johann M. Wolff

It’s a sad day for Europe. On one hand, I’m deeply disgusted by Brussels and its eurocrats. On the other hand, I believe that Europe became too small in order for nation states to go ahead alone. With the UK there would have been a chance to reform the EU, to make it more democratic and less bureaucratic. This opportunity is now gone. I’m quite pessimistic about the future…..

Posted on 6/24/16 | 10:10 AM CET

Ed.

Sorry – I know we have more important issues to focus on right now, but….
“THERE will must be respected”…. really ? :-/

Posted on 6/24/16 | 10:16 AM CET

sylvain

A fair and honest Prime Minister. People can identify with him. It is a pity that David Cameron resigns. Good bye David ! All the best !

Posted on 6/24/16 | 10:21 AM CET

Walter S

David Cameron really should have stayed above the fray, and not made this referendum so personal. Of course he has to resign. But he didn’t have to if he had kept his mouth shut and just let the voters decide.

Posted on 6/24/16 | 10:37 AM CET

José Manuel Rita Moure

A bad day for Trump and Cameron a great day for the union of Europe.

Posted on 6/24/16 | 10:46 AM CET

Celine

Please correct “There (sic) will must be respected.”
thanks

Posted on 6/24/16 | 10:48 AM CET

José Manuel Rita Moure

A great day for the union of Europe a bad day for Cameron and his allies.

Posted on 6/24/16 | 10:48 AM CET

Chris is A-OK.

So, before the announcement, my expectation was that they weren’t necessarily going to follow through on the referendum, but Cameron does have to step down because it would be almost impossible having offered it to not respect the result; the real issue is, they promote Boris into cabinet, or stack it with other Brexiters, and it really begins the process rolling toward the exit. I think the only way this doesn’t happen is if the markets are significantly impacted, and remain depressed for the three months in between. If that remains the case, there might be a change of plan by the time they get to that leadership convention. But, interesting result.

Posted on 6/24/16 | 12:22 PM CET

Pt

It is foolish to think an open border can work when government benefits are a lot better on one side. Of course the flow of people will be in one direction.

Posted on 6/24/16 | 12:44 PM CET

Geoffrey Sea

Britons were willing to invite economic calamity and financial chaos for one reason: self-protection against the tide of Muslim immigration. It is music to the ears of Donald Trump and it should serve as warning to all politicians that they must face the reality of immigration threats rather than pretend Cameron-fashion (and Obama-fashion) that there simply is no problem. The event that may have sealed the Brexit vote was the Orlando terrorist attack.

Posted on 6/24/16 | 1:56 PM CET

SMB1128

The Britons can now feel the negative effects of their decision. Higher borrowing costs and tariffs on once tariff free products. It’s insanity. Business leaders all over are rethinking their positions in the UK. We sure aren’t going to park our money in a country that’s going to cost us more. Our company will most likely be leaving the UK so they can be headquartered in a EU country taking 400+ jobs with them.

Posted on 6/24/16 | 2:16 PM CET

CARL RICE

It sounds like he’s ditching a sinking ship. But this is a positive for the US in this sense: the trumpification of the UK will show Americans what they will be in for it we elect a racist clown who has no business runing anything.